Inotiv (NOTV) said late Monday it has raised about $24 million in net proceeds from an underwritten public offering of 6 million shares at $4.25 apiece.
Net proceeds will be used for working capital, capital expenditures and other general corporate purposes, the company said.
The underwriter has been given an option to buy up to 900,000 additional shares, the company said, adding the option is exercisable until Jan. 17.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.